Financial Magic: Liu Ba's Wealth Seizure with the "Hundred-Value Coin"
When Liu Bei besieged Chengdu, to boost morale, he promised his soldiers: "Once Chengdu falls, you may take whatever you wish from the government treasury." When the city was truly captured, soldiers swarmed in and looted the treasury clean.
Fulfilling this pledge immediately plunged Liu Bei's regime into a severe military funding shortage. At this critical moment, Liu Ba — a strategist who had previously thought little of Liu Bei — proposed an ingenious plan to mint large-denomination coins, setting a precedent for the Shu-Han regime to cover fiscal deficits using overvalued currency.
Liu Ba's scheme consisted of three clever steps:
Step 1: Issue a new currency Cast a new coin called the "Hundred-Value Coin" (Zhi Bai Qian), and by official decree, declare one new coin equal in value to one hundred old Wu Zhu coins. In essence, this created monetary credibility at extremely low cost.
Step 2: Monopolize hard currency Order that essential goods such as silk, grain, and salt could only be traded using the new currency. Whether the people liked it or not, they were forced into the new monetary system.
Step 3: Launch wealth extraction The government used the new coins — minted at negligible cost — to exchange for civilian goods worth a hundred times their face value. For instance, one nearly costless new coin could purchase one hundred baskets of grain. In this way, Liu Bei's administration raised massive military funds in a short time, but at the cost of a sharp decline in public wealth, completing a hidden plunder of civilian assets.
Although this strategy quickly refilled the treasury and solved the urgent crisis, it was essentially a financial magic trick of wealth transfer. As the Italian historian Benedetto Croce wrote: "All history is contemporary history" — such financial tactics have reappeared in different forms across eras.
Political Marriage: Power Calculations Behind Marrying the Widow Lady Wu
After Liu Bei entered Yi Province, some advised him to marry the younger sister of Wu Yi. This proposal carried profound political motives.
Lady Wu's special status: She was the sister of Wu Yi, brother-in-law of the former Governor of Yi Province Liu Zhang, and the late widow of Liu Mao, Liu Zhang's third elder brother. She was a core member of the powerful local clans in Yi Province. It was also said that when Liu Yan was still alive, a fortune-teller predicted Lady Wu had a face destined for "great nobility and honor."
Dual considerations for the marriage: First, through this union, Liu Bei could form a firm marital bond with the Wu clan and quickly gain support from Yi's local elite — crucial for an outside ruler. Second, although Liu Bai hesitated on ritual grounds (he and the late Liu Mao shared the surname Liu, making them distant clan relatives), Fa Zheng cleverly persuaded him by citing the historical example of "Duke Wen of Jin marrying his nephew's widow," emphasizing the marriage served the state rather than personal desire.
A successful outcome: Lady Wu was eventually made Empress (known historically as Empress Mu), became Empress Dowager over two reigns, and died a peaceful death. This political marriage was key to stabilizing Liu Bei's rule in Yi Province.
Machiavellian Appointments: Grandstanding Purchase of the "Turncoat Minister" Xu Jing
Liu Bei also demonstrated outstanding political wisdom in personnel matters, especially toward Xu Jing, a man he originally despised.
Xu Jing's special background: A famous figure of the late Eastern Han, Xu Jing had frequently changed lords, serving under Kong Zhou, Xu Gong, and others. During the siege of Chengdu, he attempted to surrender to Liu Bei early but was caught by Liu Zhang. To Liu Bei, this was a classic case of "betraying one's master for glory."
Fa Zheng's strategic insight: Fa Zheng sharply pointed out the crux: he advised Liu Bei to follow the example of "King Zhao of Yan building the Golden Platform to honor Guo Wei" — even if Xu Jing's actual ability was not to be trusted, his reputation could be used to show reverence for talent, attracting more scholars from across the realm.
An ingenious balancing act: Liu Bei ultimately appointed Xu Jing to the high position of Prefect of the Masters of Writing (rank equal to Zhuge Liang), granting him immense political honor but excluding him from real military and administrative decision-making. This both cultivated a positive image of "honoring worthy talent" and prevented an untrustworthy man from holding real power.
Through this experience, Liu Bei deeply grasped the true meaning of "kingly strategy": personal likes and dislikes must yield to the interests of the group. A true ruler must master the imperial philosophy of "hiding filth and turning decay into gold."
Key Insights and Reflections
These events reveal several important historical principles:
The elevation of kingly strategy Liu Bei finally understood the difference between "great benevolence" and "petty loyalty." A ruler's virtue operates on a different level than that of ordinary people. A true king must set aside personal feelings and focus on the well-being of all under heaven.
The value of cognitive divergence Fa Zheng, Zhuge Liang, and other subordinates became core decision-makers precisely because they possessed a higher political perspective than their lord. History repeatedly shows: a leader values you often because you hold a cognitive dimension he lacks.